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xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureInspired Builders, Inc.000150978610-Q2013-06-30false2013Q3--09-30Smaller Reporting Company11025000854000854000135008521100011025111259975609875-300175-402109400013500850.0010.001500000050000000.0010.001500000005000000011025000111250001102500011125000235501921523204080557235501921523204080557-23550-192152-32040-80557-29160-2023717342-101934-0.00-0.02110250001102500011031593110283154000-4000-3150465534-237875-324006500950037112407147824852839854044851205<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font size="2"></font>&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">2.&#160;&#160;Nature of Operations</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Inspired Builders, Inc. (the &#8220;Company&#8221;) was incorporated in the State of Nevada in February 2010.&#160; The Company is a construction company that specializes in residential home repair and home improvements.&#160; The Company contracts with homeowners to build custom home improvements, including shelving for closets, bathroom remodeling, upgrading home entertainment centers and replacing flooring.&#160;&#160;In May 2013, the Company&#8217;s board of directors has determined that conversion of the Company&#8217;s corporate status to that of a real estate investment trust (a &#8220;REIT&#8221;) would best support the company&#8217;s strategic direction.&#160;&#160;Accordingly, the board has passed and adopted a resolution for the Company to be treated as a REIT and will designate its tax status on Form 1120 to be filed with the IRS for the tax year 2013.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In connection with the Change of Control that occurred on January 13, 2012, our principal offices are located in Santa Monica, California.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">3. Summary of Significant Accounting Policies</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Use of Estimates</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following; estimates of the probability and potential magnitude of contingent liabilities and the valuation allowance for deferred tax assets due to continuing operating losses.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from our estimates.</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Cash</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents.&#160;&#160;There were no cash equivalents at June 30, 2013 and September 30, 2012.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company minimizes its credit risk associated with cash by periodically evaluating the credit quality of its primary financial institution. The balance at times may exceed federally insured limits.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Fair Value of Financial Instruments</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">For purpose of this disclosure, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. The carrying amounts of cash, loan payable, and accounts payable and accrued expenses reported in the balance sheets are estimated by management to approximate fair value at June 30, 2013 and September 30, 2012.</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Revenue Recognition</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company records revenue for services rendered when all of the following have occurred: (1) persuasive evidence of an arrangement exists, (2) the product/service is delivered, (3) the sales price to the customer is fixed or determinable, and (4) collectability of the related customer receivable is reasonably assured.&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Income Taxes</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company accounts for income taxes in accordance with generally accepted accounting principles which requires an asset and liability approach to financial accounting and
reporting for income taxes.&#160;&#160;Deferred income tax assets and liabilities are computed annually for differences between financial statement and income tax bases of assets and liabilities that will result in taxable income or deductible expenses in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.&#160;&#160;Valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amount expected to be realized.&#160;&#160;Income tax expense is the tax payable or refundable for the period adjusted for the change during the period in deferred tax assets and liabilities.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board (FASB) ASC 740,<font style="font-style: italic; display: inline;">&#160;&#160;&#160;&#160;Income Taxes</font> &#160;&#160;. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities.&#160;&#160;It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.&#160;&#160;As of June 30, 2013 and September 30, 2012, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.&#160;&#160;All tax returns from fiscal years 2008 to 2011 are subject to IRS audit.</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In May 2013 The Company&#8217;s board of directors has determined that conversion of the Company&#8217;s corporate status to that of a real estate investment trust (a &#8220;REIT&#8221;) would best support the company&#8217;s strategic direction.&#160;&#160;Accordingly, the board has passed and adopted a resolution for the Company to be treated as a REIT and will designate its tax status on Form 1120 to be filed with the IRS for the tax year 2013.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Earnings per share</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In accordance with accounting guidance now codified as FASB ASC Topic 260,<font style="font-style: italic; display: inline;"> &#8220;Earnings per Share,&#8221;&#160;&#160;</font> basic earnings (loss) per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each period.&#160;&#160;Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company did not have any potential common stock equivalents at June 30, 2013 and 2012.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Recent accounting pronouncements</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In May&#160;2011, the FASB issued ASU 2011-04,<font style="font-style: italic; display: inline;"> &#8220;Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs,&#8221;</font>&#160;&#160;&#160;&#160;&#160;&#160;(&#8220;ASU 2011-04&#8221;). This standard results in a common requirement between the FASB and the International Accounting Standards Board for measuring fair value and disclosing information about fair value measurements. ASU 2011-04 is effective for fiscal years and interim periods beginning after December&#160;15, 2011. The adoption of this accounting pronouncement did not have any effect on our financial position and results of operations.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">All other new accounting pronouncements issued but not yet effective or adopted have been deemed not to be relevant to us, hence are not expected to have any impact once adopted.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">4. Going Concern</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">As reflected in the accompanying financial statements, the Company has a net loss of $101,934 and net cash used in operations of $0 for the nine months ended June 30, 2013. In addition, the Company has not had construction revenues since May 2011 and the only prospect for positive cash flow is through the issuance of common stock or debt.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The ability of the Company to continue its operations is dependent on Management's plans, which include the raising of capital through debt and/or equity markets with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirements.&#160;There is no plan or knowledge of any tangible financing source or discussions with any investors to raise additional capital. If the Company does not begin to generate sufficient revenue or raise additional funds through a financing, the Company may need to incur additional liabilities with certain related parties to sustain the Company&#8217;s existence. The Company will require additional funding to finance the growth of its future operations as well as to achieve its strategic objectives.&#160;The Company believes its current available cash along with anticipated revenues may be insufficient to meet its cash needs for the near future.&#160;There can be no assurance that financing will be available in amounts or terms acceptable to the Company, if at all.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;<font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.&#160;&#160;These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">7. Note Payable &#8211; Related Party</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On January 13, 2012 the Company entered into a 12 month unsecured promissory note in the amount of $211,000.&#160;Interest shall accrue in arrears on the principal of this Note outstanding from time to time at the rate of ten percent (10.00%) per annum. Interest shall be payable on the last day of each quarter, commencing March 30, 2012, and continuing until the Maturity Date. Should Maker fail to pay the entire Loan and accrued interest by the Maturity Date, Maker agrees that the interest rate shall increase to Twelve percent (12.00%) per annum.&#160;On May 10, 2013 the Company and the related party agreed to extend the maturity of the loan for an additional year or until January 13, 2014.&#160;On May 22, 2012 the Company borrowed an additional $32,714 from the related party with the same terms. On September 17, 2012 the Company borrowed an additional $22,033 from the related party with the same terms On February 7, 2013 the Company borrowed an additional $28,773 from the related party with the same terms Accrued interest at June 30, 2013 and September 30, 2012 amounted to $37,342 and $16,341, respectively.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">7. Stockholders&#8217; Equity</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On June 24, 2013, the Company issued 100,000 shares of common stock valued at $600,000 ($6.00/share) for the purchase of real estate. &#160;</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">8. Commitments and Contingencies</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise that may harm its business. The Company is currently not aware of any such legal proceedings or claims that they believe will have, individually or in the aggregate, a material adverse affect on its business, financial condition or operating results.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">9. Concentration of Credit Risk</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company relies heavily on the support of its president and majority shareholder.&#160;&#160;A withdrawal of this support, for any reason, will have a material adverse affect on the Company&#8217;s financial position and its operations.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">10.&#160;&#160;Related Party Transaction</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On January 13, 2012 the Company entered into a 12 month unsecured promissory note in the amount of $211,000.&#160;Interest shall accrue in arrears on the principal of this Note outstanding from time to time at the rate of ten percent (10.00%) per annum. Interest shall be payable on the last day of each quarter, commencing March 30, 2012, and continuing until the Maturity Date. Should Maker fail to pay the entire Loan and accrued interest by the Maturity Date, Maker agrees that the interest rate shall increase to Twelve percent (12.00%) per annum.&#160;On May 10, 2013 the Company and the related party agreed to extend the maturity of the loan for an additional year or until January 13, 2014.&#160;On May 22, 2012 the Company borrowed an additional $32,714 from the related party with the same terms. On September 17, 2012 the Company borrowed an additional $22,033 from the related party with the same terms On February 7, 2013 the Company borrowed an additional $28,773 from the related party with the same terms Accrued interest at June 30, 2013 and September 30, 2012 amounted to $37,342 and $16,341, respectively.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">11. Subsequent Events</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On August 1, 2013 a related party advanced the Company $30,000.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Recent accounting pronouncements</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In May&#160;2011, the FASB issued ASU 2011-04,<font style="font-style: italic; display: inline;"> &#8220;Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs,&#8221;</font>&#160;&#160;&#160;&#160;&#160;&#160;(&#8220;ASU 2011-04&#8221;). This standard results in a common requirement between the FASB and the International Accounting Standards Board for measuring fair value and disclosing information about fair value measurements. ASU 2011-04 is effective for fiscal years and interim periods beginning after December&#160;15, 2011. The adoption of this accounting pronouncement did not have any effect on our financial position and results of operations.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">All other new accounting pronouncements issued but not yet effective or adopted have been deemed not to be relevant to us, hence are not expected to have any impact once adopted.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Use of Estimates</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such estimates and assumptions impact, among others, the following; estimates of the probability and potential magnitude of contingent liabilities and the valuation allowance for deferred tax assets due to continuing operating losses.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from our estimates.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Cash</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents.&#160;&#160;There were no cash equivalents at June 30, 2013 and September 30, 2012.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company minimizes its credit risk associated with cash by periodically evaluating the credit quality of its primary financial institution. The balance at times may exceed federally insured limits.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Revenue Recognition</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company records revenue for services rendered when all of the following have occurred: (1) persuasive evidence of an arrangement exists, (2) the product/service is delivered, (3) the sales price to the customer is fixed or determinable, and (4) collectability of the related customer receivable is reasonably assured.&#160;</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Income Taxes</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company accounts for income taxes in accordance with generally accepted accounting principles which requires an asset and liability approach to financial accounting and reporting for income taxes.&#160;&#160;Deferred income tax assets and liabilities are computed annually for differences between financial statement and income tax bases of assets and liabilities that will result in taxable income or deductible expenses in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.&#160;&#160;Valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amount expected to be realized.&#160;&#160;Income tax expense is the tax payable or refundable for the period adjusted for the change during the period in deferred tax assets and liabilities.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of Financial Accounting Standards Board (FASB) ASC 740,<font style="font-style: italic; display: inline;">&#160;&#160;&#160;&#160;Income Taxes</font> &#160;&#160;. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not the positions will be sustained upon examination by the tax authorities.&#160;&#160;It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.&#160;&#160;As of June 30, 2013 and September 30, 2012, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.&#160;&#160;All tax returns from fiscal years 2008 to 2011 are subject to IRS audit.</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In May 2013 The Company&#8217;s board of directors has determined that conversion of the Company&#8217;s corporate status to that of a real estate investment trust (a &#8220;REIT&#8221;) would best support the company&#8217;s strategic direction.&#160;&#160;Accordingly, the board has passed and adopted a resolution for the Company to be treated as a REIT and will designate its tax status on Form 1120 to be filed with the IRS for the tax year 2013.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Earnings per share</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In accordance with accounting guidance now codified as FASB ASC Topic 260,<font style="font-style: italic; display: inline;"> &#8220;Earnings per Share,&#8221;&#160;&#160;</font> basic earnings (loss) per share is computed by dividing net income (loss) by weighted average number of shares of common stock outstanding during each period.&#160;&#160;Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period.</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company did not have any potential common stock equivalents at June 30, 2013 and 2012.</font></div>000000P12M0.1032714220332877340003711547462284291131194561010219696221377-29160-2023717342-10193424371428774<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">1.&#160;Basis of Presentation</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The accompanying&#160;unaudited condensed financial statements are presented in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal occurring accruals) considered necessary in order to make the financial statements not misleading, have been included. Operating results for the nine months ended June 30, 2013 are not necessarily indicative of results that may be expected for the year ending September&#160;30, 2013. The condensed financial statements are presented on the accrual basis. The Company operates as a real estate investment trust (&#8220;REIT&#8221;) for federal income tax purposes. The Company elected to be taxed as a real estate investment trust (REIT) under the Internal Revenue Code of 1986, as amended (the Code). The Company believes it has qualified for taxation as a REIT and, as such, the Company generally will not be subject to U.S. federal income tax on taxable income that is distributed to shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal income tax on its taxable income at regular corporate tax rates.</font></div>0.12<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Fair Value of Financial Instruments</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></div>
<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">For purpose of this disclosure, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. The carrying amounts of cash, loan payable, and accounts payable and accrued expenses reported in the balance sheets are estimated by management to approximate fair value at June 30, 2013 and September 30, 2012.</font></div>1634137342-27917521889117429829632014-01-131350000750000211000294520-750000-750000750000<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">5. Real Estate</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On June 24, 2013 the Company entered into an agreement with a third party to purchase a parcel of undeveloped land in Duval County Florida.&#160;&#160;The purchase price for the Duval property is $1,350,000, payable as to $750,000 by the Company&#8217;s delivery of its 3% $750,000 note and mortgage due June 15, 2014.&#160;&#160;&#160;The $600,000 balance of the purchase price was paid by the issuance to the seller&#160;of 100,000 shares of&#160;&#160;the Company&#8217;s common stock, $0.001 par value per share, which was valued by the parties at $6.00 per share. In addition the Company incurred $4,213 of closing costs which were expensed during the period.</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">6. Mortgage Payable</font></div>
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<div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On June 24, 2013 the Company entered into an agreement with a third party to purchase a parcel of undeveloped land in Duval County Florida.&#160;&#160;The purchase price for the Duval property is $1,350,000, payable as to $750,000 by the Company&#8217;s delivery of its 3% $750,000 note and mortgage due June 15, 2014.&#160;&#160;&#160;The $600,000 balance of the purchase price was paid by the issuance to the seller&#160;&#160;of 100,000 shares of&#160;&#160;the Company&#8217;s common stock, $0.001 par value per share, which was valued by the parties at $6.00 per share. As of June 30, 2013 the Company recorded accrued interest of $375</font></div>0.031000006.0042133752014-06-1560000030000